Bloomberg – Geithner Backs Limited Exemptions to Derivative Rules

“This is not a good direction,” said Kevin McPartland, a senior analyst in New York at financial-market research and advisory firm Tabb Group. “It must be the clearinghouses that decide, or we could end up with clearinghouses clearing products they don’t feel they can properly risk-manage.”

McPartland said the “Dodd bill seemed to have the best compromise, a joint decision process between regulators and clearinghouses.”